DCSIMG

Rangers board u-turn over potential Ibrox sale

The Rangers board will no longer be able to sell Ibrox stadium. Picture: Wattie Cheung

The Rangers board will no longer be able to sell Ibrox stadium. Picture: Wattie Cheung

  • by ROSS THOMSON
 

IT APPEARS the Rangers board have had their hand forced by disgruntled fans over the future of Ibrox Stadium and Murray Park.

The ‘Ibrox 1972 Fund’ set up by The Union of Fans, Dave King and Richard Gough to collect season ticket money and used as collateral to ensure the club does not sell or borrow money against Ibrox stadium or Murray Park. The group were demanding a legally-binding document to safeguard the club’s main assets and it appears that their demands are being met.

Initially the Rangers board has refused to accept any such demands, but it seems that the clubs hand has now been forced as they u-turn their stance. The lack of season-ticket renewals ahead of Friday’s deadline was clearly of real concern for the board.

The Union of Fans met with chief executive Graham Wallace, non-executive director Norman Crighton and Sandy Easdale to discuss the issue.

A statement by the supporters coalition said: “A proposal was made by Mr Wallace that whilst the board would not grant a security, they could consider giving a legally binding undertaking which would protect Ibrox from sale, sale and leaseback, or as any form of security for a loan or other finance.”

Similar measures were also demanded for the Murray Park training complex, as the group added; “We made it clear to Mr Wallace that we felt it was also appropriate that they provide the same undertaking for Murray Park.

“Mr Wallace and non-executive director Norman Crighton agreed to discuss this with the rest of the PLC board as a matter of urgency, and further discussions between the PLC board and Union of Fans will continue once this board meeting has taken place.

“Any proposal by the board will be evaluated by our lawyers and a decision will then be taken on how to move forward. We will keep fans fully informed as discussions continue.”

 

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